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- FNB clients did 80m transactions on smart devices in 6 months
- This is eight times the amount over the same period in 2021
- Transactions totalled R31bn, or R388 per transaction
FNB clients are increasingly using their e-wallets on their Android and Apple devices to pay for goods and services. E-wallets allow people to transact without a physical card, with customers using their smartphones, tablets and watches instead.
In the six months between July and December 2023, FNB account holders made 80-million e-wallet transactions. These were worth R31-billion, or an average of R388 per transaction. This is an eightfold increase from the 9.7-million transactions over the same six months in 2021, when transactions averaged R351 each.
FNB launched its digital cards at the end of July 2020. By December 2023, 5-million virtual cards had been activated. The significant rise in e-wallet transactions in South Africa is in line with a global shift towards more convenient and secure payment options.
— 17 July, 2024Subscribe to the weekly newsletter for more charts like this
